AATIF grants a EUR 25 million loan to Coris Bank International Burkina (CBI)
Luxemburg and Ouagadougou: The Africa Agriculture and Trade Investment Fund (AATIF), an impact investor focused on sub-Saharan Africa (SSA), announces a partnership with Coris Bank International Burkina (CBI). This strategic collaboration makes available a substantial EUR 25m loan facility designed to contribute to catalysing and strengthening the agricultural sector in Burkina Faso. AATIF will also provide technical assistance to CBI to support its digital transformation by co-financing an improved digital infrastructure and new risk management systems.
The primary objective of this facility is to provide crucial financial support to the agricultural sector, using CBI’s broad agricultural finance and service expertise which materializes in financial products around, amongst others, working capital and non-cash products like guarantees on the one hand, and technical assistance services by partners such as financial education and entrepreneurship training on the other hand. CBI intends to increase its agricultural footprint by supporting the government’s agricultural industrialization programme.
Corisbank International Burkina (CBI) belongs to the leading private west-African banking groups supporting economic development projects in several sectors such as construction, mining, agriculture, and trade. CBI is present in 9 sub-Saharan African countries and has a dedicated unit for serving the agricultural sector (“Inclusive and Green Finance”).
For further information, please visit https://coris.bank/en/
AATIF is an impact investor mainly funded by the German Cooperation and the European Commission, dedicated to promoting the food / agricultural sector across Africa by providing patient capital and technical assistance. The fund provides debt financing to small, medium, and large-scale agribusinesses along the entire agriculture value chain as well as financial institutions active in the sector. Ticket sizes range from USD 3.5m up to USD 30m per project with a possible maximum tenor of 12 years. The AATIF fund is advised by DWS.